§ 648.65. How does the institution of higher education disburse and return funds?
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/us/cfr/t34/s§ 648.65·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)An institution that receives a grant shall disburse a stipend to a fellow in accordance with its regular payment schedule, but shall not make less than one payment per academic term.
(b)If a fellow withdraws from an institution before completion of an academic term, the institution may award the fellowship to another individual who satisfies the requirements in § 648.40.
(c)If a fellowship is vacated or discontinued for any period of time, the institution shall return a prorated portion of the institutional payment and unexpended stipend funds to the Secretary, unless the Secretary authorizes the use of those funds for a subsequent project period. The institution shall return the prorated portion of the institutional payment and unexpended stipend funds at a time and in a manner determined by the Secretary.
(d)If a fellow withdraws from an institution before the completion of the academic term for which he or she received a stipend installment, the fellow shall return a prorated portion of the stipend installment to the institution at a time and in a manner determined by the Secretary. (Authority: 20 U.S.C. 1135c, 1135d)
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§ 648.65
How does the institution of higher education disburse and return funds?
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